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Shagang lifts long steel prices by $16/t for mid-Feb sales


Shagang Group, China's largest privately-owned steel producer headquartered in East China's Jiangsu province, announced on Friday to raise the ex-works prices of all its major long steel products by Yuan 100/tonne ($15.7/t) for sales over February 11-20. Shagang's latest pricing policy was announced amid the bullish steel market sentiment after the Chinese New Year (CNY) holiday.
The official CNY holiday ended on February 6 and during the current week after the holiday, Chinese steel producers like Shagang as well as steel traders have been actively hiking their prices, even though downstream users - construction sites in particular for these long products - have yet to fully


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